Short Interest in SecureWorks Corp. (NASDAQ:SCWX) Declines By 16.1%

SecureWorks Corp. (NASDAQ:SCWXGet Free Report) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 57,900 shares, a drop of 16.1% from the February 29th total of 69,000 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 34,500 shares, the days-to-cover ratio is presently 1.7 days.

Insider Transactions at SecureWorks

In related news, major shareholder Neil Gagnon purchased 5,731 shares of SecureWorks stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $6.72 per share, with a total value of $38,512.32. Following the transaction, the insider now directly owns 597,149 shares of the company’s stock, valued at $4,012,841.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders acquired 19,380 shares of company stock worth $127,771. 83.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Scalar Gauge Management LLC purchased a new position in SecureWorks during the 4th quarter worth approximately $1,816,000. Horrell Capital Management Inc. grew its stake in SecureWorks by 44.6% during the 3rd quarter. Horrell Capital Management Inc. now owns 615,554 shares of the technology company’s stock worth $3,823,000 after buying an additional 190,000 shares during the last quarter. Vanguard Group Inc. grew its stake in SecureWorks by 16.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,078,346 shares of the technology company’s stock worth $8,681,000 after buying an additional 152,111 shares during the last quarter. First Eagle Investment Management LLC grew its stake in SecureWorks by 19.2% during the 3rd quarter. First Eagle Investment Management LLC now owns 843,133 shares of the technology company’s stock worth $5,236,000 after buying an additional 135,589 shares during the last quarter. Finally, Royce & Associates LP grew its stake in SecureWorks by 13.7% during the 1st quarter. Royce & Associates LP now owns 1,003,212 shares of the technology company’s stock worth $8,598,000 after buying an additional 120,617 shares during the last quarter. Hedge funds and other institutional investors own 14.38% of the company’s stock.

SecureWorks Trading Up 12.9 %

SCWX opened at $6.72 on Monday. SecureWorks has a one year low of $5.40 and a one year high of $10.06. The business’s 50-day simple moving average is $6.77 and its 200-day simple moving average is $6.38.

About SecureWorks

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SecureWorks Corp., through its subsidiaries, provides technology-driven information security solutions for protecting its customers in the United States and internationally. The company's solutions include software-as-a-service solutions, managed security services, and professional services, including incident response and adversarial services.

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